ATSI Engages Investment Banker;Completes $4.7 Million in Financings
July 19, 1999 09:39 AM
SAN ANTONIO--(BUSINESS WIRE)--July 19, 1999--American TeleSource International Inc. AMTI ("ATSI") announced today that it has engaged Gerard Klauer Mattison & Co. ("GKM") as its investment banking firm.
Under the terms of the agreement, GKM will assist ATSI in analyzing, structuring and positioning itself for financial markets and potential strategic relationships. GKM will render financial advisory services to ATSI concerning strategic financial decisions, including fund raisings and acquisitions.
GKM has successfully established a reputation as a research-driven investment banking firm, serving many of the largest institutional investors, through its five offices located in New York, Boston, Chicago, San Francisco and Tel Aviv.
GKM has managed over $3.5 billion of public offerings and private placements, and advised in $2.2 billion of transactions including mergers and acquisitions. Their equity trading division consists of 25 traders making markets in a large number of stocks, including over 180 Nasdaq issues. GKM is a member of the NYSE.
Charles A. DiSanza, GKM's Senior Vice President and Telecommunications Research Analyst, is highly regarded for his knowledge and contacts in the industry. He covers a variety of the leading telecommunications services and equipment companies, including MCIWorldCom, Vodafone AirTouch Plc, Clearnet Communications, Nextel, Nortel Networks, Lucent and Motorola.
Reuters 1999 Survey of Analysts listed DiSanza in their top 10 of both the Telephone and Communications Equipment categories. He was also awarded the Wall Street Journal All-Star Analyst award for his coverage of Telecommunications Carriers.
H. Douglas Saathoff, ATSI's Chief Financial Officer, stated, "We have been searching intently for an investment banking partner that shares our same level of energy. We chose GKM based on their proven investment banking capabilities, superior research, market support and excitement about the ATSI strategy. GKM set themselves apart from all other firms with their responsiveness and desire to secure a relationship with ATSI. I believe ATSI has found a long-term partner to assist us in furthering our success."
Simon S. Strauss, GKM's Managing Director of Corporate Finance, stated, "We were immediately impressed with ATSI and recognized the Company's capability of becoming one of the leaders in the Latin American telecommunications arena. We believe our industry knowledge and familiarity with key telecom players will be beneficial to the Company."
Additionally, ATSI announced completion of a private placement for approximately $4.7 million in common and preferred stock, including $2.0 million placed with a New York-based institutional investor. Saathoff further stated, "These fundings, which represent the first private financings completed by the Company since July 31, 1997, have strengthened the Company's balance sheet and enhanced our ability to further implement the ATSI strategic plan."
American TeleSource International Inc. is an emerging multinational telecommunications carrier serving certain niche markets in and between Latin America and the United States. ATSI's borderless strategy includes the deployment of a "next generation" ATM network for more efficient and cost effective service offerings of voice and data transport. The Company has clear advantages over the competition through its corporate framework consisting of unique licenses, interconnection and service agreements, network footprint and extensive distribution channels.
Certain statements contained herein (for example, "...to assist us in furthering our success" and "...and enhances our ability to further implement the ATSI strategic plan") are considered "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based upon the belief of the Company's management, as well as assumptions made beyond information currently available to the Company's management. Because such "forward-looking statements" are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, price competition, the inability to obtain additional capital, loss of key personnel, unavailability of leased transmission facilities, damage, loss or malfunction of satellites, fiber cuts, technological changes, service interruptions, equipment failures, customer attrition, general economic conditions, relationships with vendors, government supervision and regulation, changes in industry practices, and other factors discussed in filings made by the Company with the Securities and Exchange Commission.
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